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Re: April 15th is over. How did you come out for the 2013 tax year?

Originally Posted by Lutherf

LOL!!

My tax season starts in November with getting my corporate clients squared away. Beginning in January I've got 4th Quarter payroll reports that have to go out, 1099's that need to get filed and finalization of corporate financial statements. Corporate returns are due March 15th and get mixed in with individuals who need to file early so they can get the information they need for their kids FAFSA applications. That basically leaves me 4 weeks to get the bulk of the individual returns done. Interspersed with all of that is answering correspondence from the IRS and state tax agencies as well as at least one person who comes in with an audit issue. You also have to keep in mind that whatever Congress changed in Nov and Dec means that both the IRS and the software companies have to get those changes into the system so filing ANY return before the middle of February is pretty much a shot in the dark....if it's even possible.

As far as the complexity of my return...well, I've got two corporate returns that need to be done before I can do my personal which isn't really complicated but it sure is time consuming.

You don't outsource your indy returns to some 8 dollar an hour street-scrubs? I haven't met a CPA yet who doesn't think that individual returns are beneath him, unless they were incredibly difficult.

Re: April 15th is over. How did you come out for the 2013 tax year?

You don't outsource your indy returns to some 8 dollar an hour street-scrubs? I haven't met a CPA yet who doesn't think that individual returns are beneath him, unless they were incredibly difficult.

I have one other preparer in the office and there is no way I'm going to farm out returns to some "flunky". I know a lot of CPA's who use an interviewer and a data entry person but I'll be damned if I'm going to sign something I didn't thoroughly review. It's just too damned easy to make a mistake.

Every year I have stuff come across my desk that was prepared by other firms and on better than half of those returns I've found issues (which is usually why they came to my desk in the first place). On top of that, after working with a client for a few years I can tell whether something is missing or just doesn't make sense. No data entry clerk is going to notice those differences and if I farm it out I'll be prone to lose that insight too.

Re: April 15th is over. How did you come out for the 2013 tax year?

Oh. I get it. Those corporate returns have a tax year that ends in a different month. If your corporate tax year ends on June 30, 2014, does that effect your 2013 individual tax return?

Their tax year generally isn't different but the due date for their return is earlier than for individuals. If you happen to have a fiscal year instead of a calendar year then your corporate return is due on the 15th of the third month after your year ends. For individuals it is the 15th of the 4th month after the year ends.

Re: April 15th is over. How did you come out for the 2013 tax year?

Originally Posted by tres borrachos

Luckily we only have to file one return - the one for Uncle Sam. God bless New Hampshire, the Live Free or Die state. No income taxes here.

Back in 2002 I did a report advocating abolishing the North Carolina income tax. At that time Florida, Texas, South Dakota, Alaska, Arizona, Nevada and Washington were the only states that didn't have a state income tax. I was surprised to learn that New Hampshire wasn't one of the no income tax states.

I think at that time New Hampshire required income tax on interest income. Is that still the way it is in New Hampshire? or have that done away with all income taxes in New Hampshire?

Re: April 15th is over. How did you come out for the 2013 tax year?

Originally Posted by Lutherf

I have one other preparer in the office and there is no way I'm going to farm out returns to some "flunky". I know a lot of CPA's who use an interviewer and a data entry person but I'll be damned if I'm going to sign something I didn't thoroughly review. It's just too damned easy to make a mistake.

Every year I have stuff come across my desk that was prepared by other firms and on better than half of those returns I've found issues (which is usually why they came to my desk in the first place). On top of that, after working with a client for a few years I can tell whether something is missing or just doesn't make sense. No data entry clerk is going to notice those differences and if I farm it out I'll be prone to lose that insight too.

I love Intuit products. I've used ProSeries and it's practically idiot-proof. Does the job for ya.

I heard that, a few years back, the IRS said that 85% of individual returns turned in were incorrect or incomplete. It was the first year of that Schedule M (Making work pay...damn Obama), so I imagine that contributed to a good chunk of them.

The flunky wouldn't do complex returns, but they usually handle EZs and minor As. The firm I worked for, the partner pretty much didn't touch it unless it was a 179, had multiple difficult schedules, or was a family member/friend.